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PNB LOAN FRAUD
London court orders Nirav Modi to pay Bank of India Rs 100 croreA London High Court has ordered fugitive diamantaire Nirav Modi to pay Bank of India over $10.7 million (approximately Rs 100 crore). The j...- Stocks in news: HCL Tech, Vedanta, Jio Financial, IndusInd Bank, Suzlon EnergyMarkets are cautious as a ceasefire nears expiry. Oil prices rose, and the rupee weakened, sparking inflation worries. Investors are watchi...
- Belgian court rejects Mehul Choksi's bail, key accussed in Rs 13,500 cr PNB loan fraud caseA Belgian court has denied bail to Mehul Choksi, a key figure in the Rs 13,500 crore PNB loan fraud case. Arrested by Belgian police at the...
- Mehul Choksi in custody: How a fugitive businessman brought the share of India's second largest PSU bank from Rs 200 to Rs 53 in few daysIn 2018, Punjab National Bank uncovered a massive Rs 13,500 crore fraud involving Nirav Modi and Mehul Choksi, who manipulated the system t...
- PNB fraud: ED begins restitution of over Rs 2,500 cr assets of Mehul ChoksiThe Enforcement Directorate has started returning over ₹2,500 crore in assets seized in the PNB loan fraud case involving Mehul Choksi. Pro...
- Anil Ambani firm a 'fraud' in PNB booksUpon declaring an account as fraud, banks are required to make provisions for 100 per cent of the outstanding loan amount, as per Reserve B...
- Forensic audit of Reliance Home Finance proved there was diversion of funds: PNB source“The account was declared fraud based on the forensic audit. At a time when capital is so scarce, why should I declare an account fraud for...
- A year after India's biggest bank fraud, PNB on road for annual profitThe bank is expected to clock a net profit of Rs 2,266 crore for the year ending March 2020.
- PNB separates loan appraisal, monitoring to reduce credit riskPunjab National Bank (PNB) said it is taking steps against erring employees, legal action against the fraud perpetrators and closely cooper...
- PNB pins hope on asset sale, IBC resolution to raise Rs 13,000 croreThe PSU lender, among other things, is planning to sell stake in its arm PNB Housing Finance where it holds 39.08 per cent.
- Fitch Ratings downgrades PNB’s creditworthinessFitch expressed doubts whether the bank would be able to address the Nirav Modi fraud quickly.
- Loan defaults: Sebi to push for urgent disclosure by listed firmsThe proposal is expected to be discussed by Sebi's board at a meeting later this month.
- Referred Mudra loan misuse case for necessary action: PNBThe PNB was responding to a clarification sought from exchanges on a news report about unearthing of misuse of Mudra loan by CBI and filing...
- $2 billion bank fraud is Barings redux for biggest Indian lenderIn 1995, a single rogue trader had brought Barings Plc to its knees, a debacle that ended the 233-year-old British merchant bank’s independ...
- CBI unearths fraud at Barmer PNB, files FIRs against branch ex-bossThe branch manager allegedly siphoned off money from some government schemes and put it in the accounts of fictitious persons, causing a lo...
- 86 per cent of bank frauds tied to loans, 99 per cent in case of PNBFrom misuse of letters of credit, guarantee or undertakings to diversion and siphoning of funds, a variety of frauds linked to advances hau...
- PNB mega fraud: All you need to know in briefWith several questions still unanswered, here’s what we know about the case.
- Sebi may give fresh push to loan default disclosure by listed firmsEver since the fraud came to light last week, investors wealth has seen a massive erosion.
- PNB went to CBI 4 days after stumbling upon Rs 11,394.02 crore fraudAfter stock exchanges sought clarifications on the fraud, PNB in a late night filing detailed the sequence of events behind the massive fra...
- How Nirav Modi allegedly executed a $2 billion PNB fraudShares of the lender, Punjab National Bank, plunged on the news, dragging down other lenders when it said the scam may extend to multiple b...
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